The Federal Reserve will likely keep its key short-term interest rate unchanged on Wednesday, despite harsh criticism from President Donald Trump and his demand that the Fed reduce borrowing costs.

"Letting inflation gather steam today, by arbitrariyl holding down rates, would be a different story. This would be a message to dollar holders around the world

Wall Street's main indexes fell on Monday after U.S. President Donald Trump rekindled worries about the fallout of a global trade war by introducing new tariffs, while focus remained on the Federal Reserve's monetary policy decision later this week.